GIC Inner Page Slide

GIC Heading

GIC

GIC

GIC Business Banking

Business Term Deposits (Guaranteed Investment Certificates)

SBI Canada Bank offers term deposits in the form of Redeemable and Non-redeemable GICs.
  • GICs are available both in Canadian Dollar (CAD) and US Dollar (USD).
  • Our GICs offer attractive rate of interest for various maturities. Get updated with Latest Interest Rates
  • Interest on the GICs is compounded annually and paid out at the end of the term
  • Cashable GIC is offered for a 1-year term. Interest in Cashable GIC is accured on daily basis and calculated as simple interest. Interest is paid out at maturity or at the time of redemption.
  • Non-Redeemable GICs are available for periods ranging from 6 months to 5 years. Non-Redeemable GICs may not be redeemed before maturity.
  • If the GIC is for a term of less than one year, simple rate of interest calculated on the entire term of the investment shall be paid.
  • Redeemable GICs are available for periods ranging from 1 year to 5 years.
  • Redeemable GICs - If redemption is made within 29 days of opening the redeemable GIC, No Interest will be paid. Refer to Redeemable GIC disclosures and Interest Rates table for complete and updated information.
  • Non-Redeemable GICs will not be redeemed before the maturity date and the funds cannot be accessed before maturity.
  • Non-Redeemable GIC - If the Bank permits early redemption of non-redeemable GIC at its sole discretion for reasons of financial hardship: (i) No Interest will be paid on the non-redeemable GIC; and (ii) An administrative fee of $25.00 will be charged. This administrative fee will be deducted from the principal amount at the time of making the pre-mature payment of the non-redeemable GIC. (Please refer to non-redeemable GIC disclosures available on our website - ca.statebank)
  • Safety of Deposits: SBI Canada Bank is a member of CDIC. (To find out information about deposit insurance from the Canada Deposit Insurance Corporationincluding what instruments and/or products are eligible for deposit insurance, visit their website www.cdic.ca. Information on deposit insurance is also available in the CDIC brochure entitled "Protecting Your Deposits" )

For details disclosures on Redeemable, Non-Redeemable and Cashable GICs click here

Business Accounts Side Navigation

Support

Support

Contact a business representative image.

Contact a Business Representative

SUB Services money transfer to India

Money Tranfer to India

money transfer image, click below to know more

More about money transfers

SUB Services How to open an account with the SBI Canada Bank

How to open an account with SBI Canada Bank

how to open an account with SBICA bank image, click below to view more

Learn More